One United Properties finalizes the acquisition of a new office building. One Victoriei Plaza is located in Bucharest at 29-31 Nicolae Titulescu Boulevard, and it currently hosts the headquarters of First Bank. The value of the transaction is approximately EUR 28 million.
“2022 is already a milestone year for One United Properties, marking our transition from a developer to a leading green real estate investor in the Romanian market. Today’s transaction is aligned with our strategy of growing the recurring revenues from the commercial portfolio, especially in the setting where the demand for quality office spaces continues to grow in Bucharest. There are a lot of opportunities in the market for key acquisitions, such as One Victoriei Plaza. In this context, we are carrying out the capital increase operation to continue deploying capital strategically, be it in the acquisitions of land for residential developments, or already developed commercial assets, that will generate solid returns for our shareholders in the years to come,” stated Victor Căpitanu, co-CEO at One United Properties.
One Victoriei Plaza has a total Gross Leasable Area (GLA) of approximately 12,000 sqm and four underground levels with 93 parking spaces. The building is fully leased to First Bank for a remaining period of 12 years with a break option after seven years. The annual rental income generated by One Victoriei Plaza is approximately EUR 1.9 million , and it is indexed with the yearly inflation.
